IndusInd Bank Ltd reappoints Mr. Sumant Kathpalia as MD and CEO

Pursuant to the recommendation made by the Compensation and Nomination & Remuneration Committee, the Board of Directors of IndusInd Bank Ltd at its meeting held on September 15, 2022 has considered and approved the re-appointment of Mr. Sumant Kathpalia (DIN-01054434) as the Managing Director & CEO of the Bank, for a fu1ther period of three (3) years, with effect from March 24, 2023 up to March 23, 2026 (both days inclusive) subject to the approval of the Reserve Bank of India and the Shareholders of the Bank.

Mr. Sumant Kathpalia is a career banker with years of rich experience in large multi-national banks such as Citibank, Bank of America and ABN AMRO prior to joining IndusInd Bank. At IndusInd Bank, he has been part of the core leadership team that joined the Bank 14 years ago and has been pivotal in turning the bank around. As MD & CEO of IndusInd Bank Limited (March 24, 2020 - Current), Mr. Sumant led the Core Executive Team of the Bank that has successfully effected the Bank's business turn-around. He is responsible for the Bank's overall business strategy & execution, financial management, managing investor relations, mergers & acquisitions, evaluation of inorganic growth opportunities, digitization, compliance and governance. He created a new and robust organizational structure to place a greater focus on customer interaction, portfolio & risk management, support new business direction and for stronger internal & external customer focus. He spearheaded business growth of the Bank with marked improvement in key financial and business performance metrics.

Source : Equity Bulls

Keywords

IndusIndBank Reappointment MD CEO